Arista Networks, Inc. (NYSE:ANET – Get Rating) has received an average rating of “Buy” from the twenty-two brokerages that currently cover the company, reports Marketbeat.com. Six analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers who have reported the stock in the last year is $153.61.
Various research analysts have issued reports on ANET’s stock. The Goldman Sachs Group raised its price target on Arista Networks from $135.50 to $150.00 and gave the company a “buy” rating in a research note Tuesday, March 1. Cowen increased his price target on Arista Networks from $151.00 to $154.00 in a research note on Tuesday, May 3. Credit Suisse Group increased its price target on Arista Networks from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, February 15. Vertical Research upgraded Arista Networks from a “neutral” rating to a “buy” rating in a research note on Thursday, January 27. Finally, Morgan Stanley raised its price target on Arista Networks from $138.00 to $144.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 15.
Shares of Arista Networks opened at $108.65 on Friday. The stock has a 50-day simple moving average of $124.38 and a 200-day simple moving average of $129.06. Arista Networks has a 12-month minimum of $79.63 and a 12-month maximum of $148.57. The company has a market capitalization of $33.49 billion, a P/E ratio of 37.21, a price-earnings-growth ratio of 2.05, and a beta of 1.28.
Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings data on Monday, May 2. The technology company reported earnings per share (EPS) of $0.84 for the quarter, beating analyst consensus estimates of $0.81 by $0.03. Arista Networks had a return on equity of 21.16% and a net margin of 29.54%. During the same period last year, the company posted earnings per share of $0.57. On average, sell-side analysts anticipate Arista Networks to post 3.18 EPS for the current fiscal year.
In other Arista Networks news, SVP Kenneth Duda sold 3,500 shares of the company in a transaction on Tuesday, May 10. The share was sold at an average price of $104.81, for a total value of $366,835.00. Following the sale, the senior vice president now owns 272,100 shares of the company, valued at approximately $28,518,801. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Additionally, director Kelly Bodnar Battles sold 560 shares of the firm in a transaction dated Thursday, February 24. The shares were sold at an average price of $115.69, for a total value of $64,786.40. Disclosure of this sale can be found here. Insiders have sold a total of 653,695 shares of the company worth $78,585,334 in the last three months. 22.01% of the shares are currently owned by insiders.
Several large investors have recently increased or reduced their holdings in the business. The Ontario Teachers Pension Plan Board increased its holding in Arista Networks stock by 5.4% in the first quarter. The Ontario Teachers Pension Plan Board now owns 3,358 shares of the technology company valued at $467,000 after acquiring an additional 171 shares last quarter. ING Groep NV increased its position in Arista Networks shares by 20.3% during the first quarter. ING Groep NV now owns 36,380 shares of the technology company valued at $5,056,000 after buying an additional 6,149 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Arista Networks by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,225,968 shares of the tech company valued at $170,386,000 after buying an additional 27,036 shares last quarter. Lazard Asset Management LLC increased its position in shares of Arista Networks by 446.1% during the first quarter. Lazard Asset Management LLC now owns 5,625 shares of the tech company valued at $781,000 after buying an additional 4,595 shares last quarter. Finally, Signet Financial Management LLC increased its position in Arista Networks shares by 1.8% during the 1st quarter. Signet Financial Management LLC now owns 27,225 shares of the tech company valued at $3,784,000 after buying an additional 469 shares last quarter. Currently, 67.10% of the shares belong to hedge funds and other institutional investors.
Company Profile Arista Networks (Get rating)
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a suite of networking applications, as well as Gigabit Ethernet switching and routing platforms.
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